But American drillers could ultimately benefit from the pressure to become more competitive. And OPEC, the oil cartel led by Saudi Arabia, may end up regretting its effort to push down oil prices and destabilize American drillers. “We’re wounded but we’re not dead, for sure,” Gary Evans, CEO of Texas-based driller Magnum Hunter Resources ( MHR ), tells me in the video above. “If their goal was to crush the US oil and gas industry, that isn’t going to happen. We are a very resilient industry.” Oil prices, currently around $57 per barrel, are about 45% below peak prices from last June. Normally, when oil prices fall, Saudi Arabia and other OPEC nations cut back production, to help support prices. But they haven’t done that this time, with aggressive levels of production largely viewed as an effort to force some U.S. drillers out of the market and make sure […]